What was the customary fee for a Florida estate trustee in 2014?


Quick Answer

The Florida provision for trustee compensation, adopted in 2006 and in effect during 2014, does not specify a customary fee. The text of the statute is available at Online Sunshine, the official website of the Florida Legislature.

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Full Answer

If the terms of the trust spell out trustee compensation, the court typically approves the amount. However, the court may revise the amount if the trustee's duties change or the specified compensation is abnormally low or high, according to the Florida Legislature. Interested parties can petition the court to adjust the trustee's compensation in cases where circumstance warrant. If the trust document doesn't specify trustee compensation, the court can determine and award reasonable compensation.

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